Business
Mangoceuticals, Inc. Announces Pricing of Initial Public Offering
IPO Shares to Commence Trading Today on Nasdaq under Ticker Symbol "MGRX"DALLAS, TX / ACCESSWIRE / March 21, 2023 / Mangoceuticals, Inc. ("MangoRx" or the
About this update from Mangoceuticals, Inc.
[{"type":"text","content":"IPO Shares to Commence Trading Today on Nasdaq under Ticker Symbol \"MGRX\"DALLAS, TX / ACCESSWIRE / March 21, 2023 / Mangoceuticals, Inc. (\"MangoRx\" or the \"Company\")(NASDAQ:MGRX), a company focused on developing, marketing and selling a variety of men's health and wellness products via a secure telemedicine platform, including its uniquely formulated erectile dysfunction (ED) drug branded \"Mango,\" today announced the pricing of its initial public offering of 1,250,000 shares of its common stock at a public offering price of $4.00 per share for a total of $5,000,000 of gross proceeds to the Company, before deducting underwriting discounts and commissions and other offering expenses payable by the Company. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 187,500 shares of its common stock at the public offering price of $4.00 per share, less the underwriting discounts and commissions, to cover over-allotments, if any.The Company intends to use the net proceeds from the offering to finance the marketing and operational expenses associated with the planned marketing of its Mango ED product, to hire additional personnel to build organizational talent, to develop and maintain software, and for working capital and other general corporate purposes.The shares are expected to begin trading on The Nasdaq Capital Market today, March 21, 2023, under the ticker symbol \"MGRX.\" The offering is expected to close on March 23, 2023, subject to the satisfaction of customary closing conditions.Boustead Securities, LLC is acting as the sole managing underwriter for the offering.A registration statement on Form S-1, as amended (File No. 333-269240), relating to these securities was filed with the Securities and Exchange Commission (\"SEC\") and was declared effective on March 20, 2023. The offering is being made only by means of a prospectus. A copy of the final prospectus relating to the offering will be filed with the SEC and will be available on the SEC's website at www.sec.gov. In addition, a copy of the final prospectus may be obtained, when available, from Boustead Securities, LLC by way of emailing requests to [email protected] or by calling 1-949-502-4408 or by standard mail to Boustead Securities, LLC, Attention: Equity Capital Markets, 6 Venture, Suite 395, Irvine, Calif...